This reminds me of the Mini Countryman. Lines are very similar however the side molding fills a void that that the countryman has. I'm unsure if I like it yet, I'll need to see it in person. I'm not a fan of the countryman either.
I think it's okay, it should do alright on the market if it has the 130hp turbo engine and if it's priced appropriately. No way would I choose it over my 500, but the it's not competing in the same market segment as the 500. I don't think it was a smart decision to give it the same name though - Fiat should try to avoid the "one product" problem Mini has, and demonstrate that they're a general-production car company that specializes in small cars, not a one-trick pony.